The company filed for protection Tuesday, saying it had reached agreements with creditors that will allow it to cut its debt load and look to expand. The company’s filing largely blames its woes on the shift in bowling culture. Americans have quit bowling leagues, which provide more steady income and have, apparently, less expectation the alley be equipped with fancy electronics and food — the latest demands from some consumers.

Over 16 years, Wall Street and financial firms had their own links to the business. Here’s a brief timeline of AMF Bowling’s Wall Street ties.

Goldman Sachs: 1996-2001 – In 1996, Goldman’s merchant banking group arranged a $1.37 billion leveraged buyout of the company and then took it public in 1997 at $19.50 a share, the Journal earlier reported. The bank launched an aggressive acquisition spree, spending $500 million to buy 262 bowling alleys. It quickly became apparent it was spending too much as debt soared and shares sunk. A separate plan to sell equipment to other bowling alleys fell off as China began churning out cheaper equipment and sales slumped for AMF. Goldman brought in a new CEO to try and right the ship, but the fixed costs and high debt forced it into bankruptcy in 2001.

About Deal Journal

Deal Journal is an up-to-the-minute take on the deals and deal makers that shape the landscape of Wall Street, including mergers and acquisitions, capital-raising, private equity and bankruptcy. In short, wherever money changes hands. Deal Journal is updated throughout each trading day with exclusive commentary, analysis, data, news flashes and profiles. The Wall Street Journal’s David Benoit is the lead writer, with contributions from other Journal reporters and editors. Send news items, comments and questions to deals@wsj.com.

Dealpolitik is Ronald Barusch's strategic look at deals currently making the headlines as well as the major forces at work in the deal-making world. He was a M&A lawyer with Skadden, Arps, Slate, Meagher & Flom for over 30 years. He retired in 2010 after 25 years as a partner at the firm. Click here for his current and archived columns.